ICICI Bank has launched ‘Diamant’, a super premium card for its private banking clients. The card is the another addition to the ‘gemstone collection’, which includes ICICI Bank Sapphiro, ICICI Bank Rubyx and ICICI Bank Coral Credit Card. The ICICI Bank Diamant card will offer various privileges that include access to private islands, yachts, jets, [...]

The Reserve Bank of India (RBI) has issued a direction to banks to not provide loans for buying gold in any form. The practice is meant to discourage people from indulging into speculative activities. As mentioned in the notification issued by the RBI, “It has been advised that no advances should be made by banks [...]

India’s private sector lender, HDFC Bank has unveiled a mobile banking application in the Hindi language. These mobile banking services are part of the bank’s overall strategy of using communication platform effectively to engage with more and more customers, as said by Mr. Birendra Sahu, Senior Executive Vice-President for Direct Banking Channels and Premier Banking. [...]

Allahabad Bank has raised the interest rates on fixed deposits for varied maturities by 25 – 150 basis points. However, the bank has made a reduction of 10 basis points in the interest rates for deposits for more than 1 year but less than 2 years. Now, the interest rate will be to 9.15 per [...]

Mortgage lender Dewan Housing Finance Corporation (DHFL), has lowered home loan lending rates by 0.25 per cent across varied categories for new clients. Earlier on October 10, the lender had cut lending rates by 0.25 per cent. The variable interest rate for loans of up to Rs 15 lakh has been trimmed from 11 per [...]

Federal Bank has unveiled a funds transfer facility in association with National Payment Corporation of India for merchants and enterprises through the mobile phone. It will allow customers to make use of their mobile phones for accessing bank accounts and transfer funds. Customers would be required to register their mobile number with the bank afterwards [...]

Vodafone India has entered into an agreement with ICICI Bank for launching a mobile payment service ‘m-pesa’. The service will be first rolled out in Kolkata, West Bengal, Bihar and Jharkhand, and then it will be launched in other parts of the nation. By using the service, customers can deposit cash and transfer money to [...]

India’s largest lender, State Bank of India (SBI) has come up with terms to make it easy for all those people who are wishing to shift their home loan account to SBI. Earlier the bank had issued a circular to all its branches allowing them leeway in processing switch over loans, or such loans which [...]

The State Bank of Travancore (SBT) has revised interest rates for FCNR deposits, w.e.f from November 3, 2012. Now, interest rate for FCNR deposits in US dollars will be 2.88 per cent for a tenure of 1 year to less than 2 years; 2.40 per cent for 2 years to less than 3 years; 3.52 [...]

Federal Bank has come up with a new idea as now it will offer loan not only for purchasing a house but also for doing house warming. The bank has come up with a new loan product, “House Warming Loan” for both its current and new customers in order to meet house warming and other [...]